HMRC is consulting until 30 September 2015 on the introduction of specific rules to determine when performance related rewards paid to investment fund managers are properly taxable as capital gains, rather than as income. These proposals are not intended to change the existing CGT treatment of carried interest, for which new anti-avoidance legislation announced in the Summer Budget has effect from 8 July 2015. See www.bit.ly/1NQ8TmN.
HMRC is consulting until 30 September 2015 on the introduction of specific rules to determine when performance related rewards paid to investment fund managers are properly taxable as capital gains, rather than as income. These proposals are not intended to change the existing CGT treatment of carried interest, for which new anti-avoidance legislation announced in the Summer Budget has effect from 8 July 2015. See www.bit.ly/1NQ8TmN.
